How to choose the best credit card in India as an NRI

As a non-resident Indian (NRI), choosing the best credit card in India can be a complex task. With numerous options available, finding the perfect one that meets your unique needs is essential. You are not an ordinary person who would use it just for daily commutes.

This guide will help you understand the key factors to consider when selecting an NRI credit card. It will focus on reward programs, transaction fees, and acceptance at the global level.

Understanding the needs of NRIs
 

NRIs have distinct financial situations compared to resident Indians. Whether you travel frequently or maintain only financial ties to India, having the right credit card can optimise your expenses and enhance your spending power. The best credit card for NRIs should suit their lifestyle, offering rewards and benefits that align with their international spending habits.

Key factors to consider
 

When selecting the best international credit card in India, pay attention to the following factors –

1. International acceptance

You should look for a credit card that is globally accepted and valid in your country of residence. This is particularly important for NRIs who travel frequently or transact in foreign currencies. Being a part of the Visa network, this is where the FIRST WOW! Credit Card from IDFC FIRST Bank can be helpful, ensuring seamless use for international transactions.

2. Low foreign transaction fees

Avoid extra costs by selecting a card with low or no foreign transaction fees. The FIRST WOW! Credit Card offers zero forex markup, making it an economical choice for NRIs who frequently transact in foreign currencies. This feature can save you a significant amount, especially if you often shop online or travel abroad for many reasons.

3. Reward programs

A credit card should offer various rewards to its valued customers. After all, an attractive reward scheme encourages users to use it more often to earn points and access other exciting offers. For instance, the FIRST WOW! Credit Card has a robust rewards program, allowing you to earn reward points for every ₹150 spent. These points can be redeemed for various exciting offers, including travel, shopping, and more.

4. Annual charges

Your credit card's annual charges must be low, especially if it’s an international card. This is where choosing the FIRST WOW! Credit Card comes in handy with no joining fee or annual fee, being a lifetime-free credit card. It makes the card one of the best international credit cards in India and offers many benefits.

5. Customer support

Reliable customer support is crucial for NRIs managing their finances from abroad. IDFC FIRST Bank provides excellent customer service through multiple channels, ensuring assistance is readily available whenever needed. Their dedicated NRI customer care team is equipped to handle queries related to credit cards, making it easier for you to resolve any issues.

Why choose the FIRST WOW! Credit Card?
 

The FIRST WOW! Credit Card is specifically designed for NRIs, making it an ideal choice for those who travel frequently or conduct transactions in India. Here are some of its standout features –

1. Zero forex markup – You are charged zero forex markup for any international currency transactions.
2. Flexible cash withdrawals – Make cash withdrawals up to 100% of the card’s fixed deposit (FD) limit at any ATM globally for a minimum cash advance fee of ₹199 per withdrawal and enjoy up to 45 days of interest-free credit.
3. Pay with UPI – You can also use the card to spend through UPI by getting the FIRST Digital Add-On Credit Card for an additional fee of ₹199 and earn up to 3X reward points on UPI spends.
4. Easy application process – Being a secured card, the NRI credit card application process is straightforward and can be done online. All you need is an NRE account from IDFC FIRST Bank and open a fixed deposit to get the FIRST WOW! Credit Card.
5. Flexible payment options – Manage your payments easily, with options for auto-pay and online account management.

Additional benefits for NRIs
 

To maximise the benefits of the FIRST WOW! Credit Card, consider the following tips –

1. Paying in Indian currency – This credit card allows you to pay in the local currency from international locations. This is handy for making international transactions, while avoiding Dynamic Currency Conversion (DCC) charges.
2. Complimentary offers – The complimentary offers provide you with exclusive discounts and deals across popular brands and online platforms in India as well as in international markets, such as exclusive visa offers.
3. Dining and entertainment benefits – The FIRST WOW! Credit Card is available on the VISA Infinite platform, which means you can access exclusive dining and entertainment offers across the globe. You can earn points when using your FIRST WOW! Credit Card and then redeem them for extra benefits.

Applying for the FIRST WOW! Credit Card from IDFC FIRST Bank
 

Applying for the FIRST WOW! Credit Card is simple –

1. Research and compare – Understand the features and benefits of the card to ensure it meets your needs.
2. Check eligibility – Verify that you meet the eligibility criteria set by the bank. This means that you, as an NRI, must hold an NRE savings account with IDFC FIRST Bank.
3. Gather documents – No documentation is required, but you should be 18 years old and have a fixed deposit in pay-out/re-invest, on auto-renew mode, with a minimum investment of ₹25,000.
4. Apply online or offline – You can apply for the FIRST WOW! Credit Card through any local branch of IDFC FIRST Bank in India. You can also visit the bank website to apply for the same.
5. Wait for approval – The FIRST WOW! Credit Card is an assured credit card backed by an FD. Once you submit your application, the bank will verify your eligibility, and upon approval, the card will be mailed to you.

Managing your NRI credit card effectively
 

After obtaining one of the best credit cards in India, managing it wisely is crucial –

1. Pay bills on time – Ensure timely payments to avoid late fees and maintain a good credit score. Setting up automatic payments can help you stay on track.
2. Monitor spending – Use mobile banking apps to track your expenses and stay within your budget. This will help you manage your finances effectively.
3. Maximise rewards – Use the card for different online and offline purchases to keep earning rewards. Redeem your points regularly to enjoy the benefits.
4. Review statements – Regularly check your credit card statements for any discrepancies or unauthorised transactions. Report any kind of peculiar behaviour to your bank immediately.

Conclusion
 

Selecting the best credit card in India for an NRI requires careful consideration of your financial needs and lifestyle. The FIRST WOW! Credit Card from IDFC FIRST Bank stands out as a top choice, offering international acceptance, zero forex markup, and a robust rewards program designed specifically for NRIs. By understanding the key factors involved and managing your credit card wisely, you can enhance your financial experience while maintaining ties to India.